Of particular interest this week:

Baker-Hughes:  Rig Counts down further.

Gold:  USD becoming less relevant in setting gold price.

SUMMARY

Copper  Cu output in DRC increasing strongly, despite political risks.

Nickel  Shanghai Futures Ex to allow foreign made Ni in its contracts.

Zinc & Lead  RVR & EMX advancing their Zn projects.

Tin  Most main producers of Sn decreased output in 2013.

Aluminium  China’s output and consumption of Al continued to grow but at slower rates.

Gold  WGC says the USD value is becoming less important in determining the price of gold.

Platinum & Palladium  Lonmin discussing reduction of 3,500 jobs.

Oil  Russia has been unable to sell Iranian crude (under the oil-for-food agreement).

Coal  Coking coal demand soft on destocking in China plus strong Australian supply.

Iron Ore  Port Hedland shipments   .

Shipping  Good conditions on the Mahakam and Barito Rivers not matched by demand for (thermal) coal.

General

Baker Hughes rig counts for April – down

CPI – Australia & USA  – USA at ~0.0%

AUDUSD vs 90 day interest rate